Illiana Expressway eligible for low-interest loan

MUNSTER, Ind. (AP) — The proposed Illiana Expressway linking northwestern Indiana with Chicago’s south suburbs is eligible for a low-interest federal loan for up to one-third of the cost of the $1.5 billion project.

The Munster Times reported Monday Indiana and Illinois can apply for a Transportation Infrastructure Finance and Innovation Act loan for the 47-mile toll road that would run between Interstate 65 near Lowell and I-55 near Wilmington, Ill.

Indiana Public Finance Director Kendra York says the project is a good candidate for the loan because it would improve interstate commerce.

The two states’ transportation departments are preparing a final environmental impact statement to be submitted soon for federal approval. The states hope to receive that approval this spring.